Stock markets rose early Wednesday after President Trump was reduced to tariffs of 145% on China.
The market opened actively with the Dow Jones Industrial gaining over 700 points, while the S&P 500 and Nasdaq Composite also saw substantial gains, both increasing by approximately 2%.
“145% is extremely high. It’s really not that high. It’s really not that high…it’s not that high,” Trump mentioned to reporters in the Oval Office on Tuesday evening. “It will decrease considerably, but not to zero.”
On Tuesday, the president also indicated he has no intentions of dismissing Federal Reserve Chairman Jerome Powell.
In addition, officials from the Trump administration, including Secretary of State Marco Rubio and Middle Eastern envoy Steve Witkov, missed discussions in London about the Russian-Ukraine war. The meeting was subsequently downgraded, as reported by Reuters.
Vice President Vance also issued comments on Wednesday concerning three years of conflict.
“We have put forward a very clear proposal for both the Russians and Ukrainians. It’s on them to agree, or the US will withdraw from this process,” Vance stated to reporters during his visit to India.
This comes as Defense Secretary Pete Hegseth found himself in the midst of another communication controversy. Hegseth is set to address students at the U.S. Army War College on Wednesday morning.
Stay tuned for the latest updates below.
